International marketing refers to implication of marketing principles in multiple countries. This term basically attracts organisation towards high profit opportunities which is available at international market (Baker and Magnini, 2016). This project is based on Juul Labs, which was founded in July, 2017 by Kevin burns. This company is offering electronic cigarette which is produced with nicotine salts as its key ingredients. Present report includes discussion on different model which are used for enhancing knowledge on international marketing environment. Further it discusses about challenges and opportunities which are available for organisations at international market place.
Micro environment analysis
International marketing is also named as global marketing as it includes marketing activities which are applied in international market according to the preferable needs and demand of its localite customers. In relation to Juul Labs, its CEO is planning to expand its business at international level. For this, main concern of CEO is to understand actual trading difference between USA and other countries (Cavusgil and et. al., 2014). In this regard marketing consultant of the company have conducted an analysis on micro environment in order to understand opportunity as well as threat that might occur at that time. For example: if the Juul Labs is expanding business in Indonesia, then elements of micro environment are described as below:
Customers: In this factor, it is required by Juul Labs to create customer for their product in international market by enhancing knowledge of its citizen about the products. Therefore, Juul Labs, can adopt social media as it is considered as an advertisement tool in order to aware customer about its products that is e-cigarette. This marketing tactic will create curiosity among customer about product and as a result, it will influence sales of the product too. As per the given example, the company is expanding its business for e cigarette in Indonesia, whose population rate is approximately 260million which is considered as an opportunity for the Juuls Labs. This reflects more chances of customers in this selected country.
Competitors: Business organisations have to take care of its competitor who offers similar kind of product in the same market. In relation to Juuls Labs, the company is required to initially analyse its competitors in international market. This will help the company in understanding existing scenario of products in expanding country which are faced by the organisation. Along with this, it can be said that by having extensive knowledge of competitor organisation can make suitable plan for themselves while entering into the market (Baack, Harris and Baack, 2013). Knowledge of competitor also helps organisation in upgrading their products in order to make it better than the customers.
Marketing intermediaries: This factor emphasis on analysing those business houses who works as a mediator while distributing products of the company in customers. In relation to Juuls Labs, it is important for this company to identify retailers, agents, financial institution and distribution agencies who will help them in reaching to the customers. It is important for organisation to identify cost effective method like …, to reach customer in a better manner that generates high profit margin for organisation.
Business organisations analysis international market so that they can identify number of opportunities which will help them to sustain longer in new market. In relation to expansion of Juuls in Indonesia, it has been analysed that Indonesia is one among those countries who has highest smoking rates in the world. This reflects that citizen of this country are highly addicted to cigarettes. Along with this, it has been observed that cigarettes are very common mode of addiction among youngsters and adults in Indonesia and there is no penalty on organisation while selling cigarettes to minors (Exclusive: Juul sounds out Indonesia for expansion, other Asian countries in its sights, 2018). This reflects as the most favourable opportunity for Juuls as they can easily expand their business in Indonesia with e-cigarette. Apart from this, there are some other benefits for Juuls while expanding its business in international market. These opportunities are described